The Brooklyn real estate market has several bogeymen, and on Wednesday, some of the borough’s leading multifamily investors and lenders discussed the ones that trouble them most.
Matthew Petrula of M&T Bank, speaking at TerraCRG’s Only Brooklyn summit at BAM, said “interest rate risk is something that keeps me up at night.” Federal Reserve chief Janet Yellen has indicated short-term interest rates are likely to go up in coming months, which would make borrowing money a more expensive prospect for developers.
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